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New provisions on the tax treatment of stock exchange transactions

A new law has just been approved by the Greek Parliament, enacting a new Income Tax Code. Inter alia it provided for the increase of the transaction tax rate with respect to trades of shares listed on the ATHEX, from 0,20% to 0,35%. Following intense criticism of all involved parties, this provision was amended at the last moment with the tax remaining at 0,20%. The new law has also confirmed (once again) the introduction of a 20% capital gains tax to be enacted from 1.1.2014.